The jackpot for the MEGA Millions draw on Tue Aug 5, 2025, is projected to be $150 Million, with an option for a cash payout of $67.9 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New Mexico residents, the state will deduct 5.9% from your lottery earnings.
| New Mexico MEGA Millions Jackpot/Cash Option for Tue Aug 5, 2025 |
|---|
| Draw Date | Tue Aug 5, 2025 | | Projected Jackpot | $150,000,000 | | Cash Value | $67,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $67,900,000 | | Federal Tax(24%) | $16,296,000 | | Additional Federal Tax | $8,787,330 | | State Tax(5.9%) | $4,006,100 | | Net Lumpsum Payment | $38,810,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,257,650 |
$795,661
$133,201 |
$1,328,788 |
| 2 |
$2,370,600 |
$837,452
$139,865 |
$1,393,283 |
| 3 |
$2,489,100 |
$881,297
$146,857 |
$1,460,946 |
| 4 |
$2,613,600 |
$927,362
$154,202 |
$1,532,036 |
| 5 |
$2,744,250 |
$975,703
$161,911 |
$1,606,636 |
| 6 |
$2,881,500 |
$1,026,485
$170,009 |
$1,685,006 |
| 7 |
$3,025,500 |
$1,079,765
$178,505 |
$1,767,230 |
| 8 |
$3,176,850 |
$1,135,765
$187,434 |
$1,853,651 |
| 9 |
$3,335,700 |
$1,194,539
$196,806 |
$1,944,355 |
| 10 |
$3,502,500 |
$1,256,255
$206,648 |
$2,039,597 |
| 11 |
$3,677,550 |
$1,321,024
$216,975 |
$2,139,551 |
| 12 |
$3,861,450 |
$1,389,067
$227,826 |
$2,244,557 |
| 13 |
$4,054,500 |
$1,460,495
$239,216 |
$2,354,789 |
| 14 |
$4,257,300 |
$1,535,531
$251,181 |
$2,470,588 |
| 15 |
$4,470,150 |
$1,614,286
$263,739 |
$2,592,125 |
| 16 |
$4,693,650 |
$1,696,981
$276,925 |
$2,719,744 |
| 17 |
$4,928,250 |
$1,783,783
$290,767 |
$2,853,700 |
| 18 |
$5,174,700 |
$1,874,969
$305,307 |
$2,994,424 |
| 19 |
$5,433,450 |
$1,970,707
$320,574 |
$3,142,169 |
| 20 |
$5,705,100 |
$2,071,217
$336,601 |
$3,297,282 |
| 21 |
$5,990,400 |
$2,176,778
$353,434 |
$3,460,188 |
| 22 |
$6,289,950 |
$2,287,612
$371,107 |
$3,631,231 |
| 23 |
$6,604,350 |
$2,403,940
$389,657 |
$3,810,753 |
| 24 |
$6,934,650 |
$2,526,151
$409,144 |
$3,999,355 |
| 25 |
$7,281,300 |
$2,654,411
$429,597 |
$4,197,292 |
| 26 |
$7,645,500 |
$2,789,165
$451,085 |
$4,405,250 |
| 27 |
$8,027,700 |
$2,930,579
$473,634 |
$4,623,487 |
| 28 |
$8,429,100 |
$3,079,097
$497,317 |
$4,852,686 |
| 29 |
$8,850,600 |
$3,235,052
$522,185 |
$5,093,363 |
| 30 |
$9,293,100 |
$3,398,777
$548,293 |
$5,346,030 |
|
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